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FLOWS
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Thursday, 11 July 2013
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BUY
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AAX, TENAGA
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SELL
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DIGI, SKPETRO
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STOCK ALERT
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STOCK NAME
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DATE
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PRICE
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BUY/SELL
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TARGET PRICE
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SUPERMX(7106)
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11/7/2013
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RM2.00
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SWITCH
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RM2.32
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Share
price has been slowly creeping higher with volume picking up for past 5 days.
2nd half FY13 will see commissioning of plants namely Lot 6059 and
Lot 6058 which will produce 3.2b and 2.2b pieces of nitrile gloves
respectively and bring its total nitrile production capacity from 6.9b to
12.3b pieces p.a. Sector is also expected to benefit from stronger USD and
lower latex prices which is at a one year low of RM520/kg. Reason talks of
reduction in subsidies would not affect Supermx greatly as only 9% of
production cost is from electricity and gas. At current share price, Supermx
is only trading at 9.5xFY13 with a dividend yield of 3%. This is a steep
discount compared to its peers which are trading at 14-18xCY13 with dividend
yield around 2.5%. We recommend a switch with TP: RM2.32 (11xPE)
(TYK)
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CRESBLD(8591)
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11/7/2013
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RM1.23
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BUY
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RM1.44
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Share
price has been trading around RM1.23-25 since hitting peak of RM1.35 in June.
This is an opportunity to accumulate as projects gather momentum in 2H2013
with the launching of its RM1bn Dang Wangi development. Tierra Crest is also
expected to be completed, providing recurring revenue of RM10mil as UNITAR
has agreed to lease 85% of building. Other significant projects include JV
with MRB on 4.8acres land that is expected to yield GDV of RM1.33bn and the
completion of UniTapah by next year on BOT agreement which last for 23years.
Current construction orderbook excluding property development stands at
RM800mil and trades at 7.5xFY14PE with P/B 0.54x. Buy TP: RM1.44
(TYK)
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Calls for JULY week 1 / week
2
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STOCK
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Initiation Dates
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Initiation price
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BUY/SELL
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TARGET
PRICE
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LAST PRICE
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% Change since Initiated
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MRCB(1651)
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4/7/2013
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RM1.53
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ACCUMULATE
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RM1.80
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RM1.57
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+2.6%
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KPJ(5878)
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4/7/2013
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RM6.78
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SELL
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RM6.11
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RM6.50
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-4.2%
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ILB (5614)
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5/7/2013
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RM1.44
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BUY
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RM1.80
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RM1.41
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-2.1%
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SCOMIES(7045)
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5/7/2013
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RM0.78
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Take
Profit into Strength
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RM0.66
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RM0.83
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+6.4%
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PADINI(7052)
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8/7/2013
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RM1.89
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ACCUMULATE
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RM2.20
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RM1.88
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-0.6%
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IJMLAND(5215)
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8/7/2013
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RM2.85
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ACCUMULATE
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RM3.30
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RM2.89
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+1.4%
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FITTERS (9318)
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9/7/2013
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RM0.745
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ACCUMULATE
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RM1.15
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RM0.73
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-2.1%
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OLDTOWN (5201)
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9/7/2013
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RM2.75
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BUY on weakness
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RM3.40
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RM2.80
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+1.8%
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POS(4634)
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10/7/2013
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RM4.80
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ACCUMULATE
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RM5.50
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RM4.79
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-0.2%
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TMCLIFE(0101)
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10/7/2013
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RM0.395
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BUY
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RM0.50
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RM0.395
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0.0%
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